Investigating Determinants of International Clean Energy Investments in Emerging Markets

Although renewable energy investments in developing and emerging economies play a crucial role in accelerating the clean energy transition, investments remain limited. Building on previous research, this study takes a unique approach by analyzing determinants of clean energy investments from investo...

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Autores principales:	Ekaterina Azarova, Hannah Jun
Formato:	article
Lenguaje:	EN
Publicado:	MDPI AG 2021
Materias:	clean energy investment Paris Agreement renewable energy Environmental effects of industries and plants TD194-195 Renewable energy sources TJ807-830 Environmental sciences GE1-350
Acceso en línea:	https://doaj.org/article/04aab6b71ad044e9a484a35e0568b04a
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spelling	oai:doaj.org-article:04aab6b71ad044e9a484a35e0568b04a2021-11-11T19:32:45ZInvestigating Determinants of International Clean Energy Investments in Emerging Markets10.3390/su1321118432071-1050https://doaj.org/article/04aab6b71ad044e9a484a35e0568b04a2021-10-01T00:00:00Zhttps://www.mdpi.com/2071-1050/13/21/11843https://doaj.org/toc/2071-1050Although renewable energy investments in developing and emerging economies play a crucial role in accelerating the clean energy transition, investments remain limited. Building on previous research, this study takes a unique approach by analyzing determinants of clean energy investments from investors from one country, the United States, which represents the largest single source of investments. Based on panel data sourced from Bloomberg New Energy Finance (BNEF)’s Climatescope, we analyzed renewable energy investments by investors from the United States between 2008 and 2019. The analysis included four factors (i.e., economic, socio-environmental, political, and proactivity) and covered 61 emerging/developing countries. Our results suggest that the most significant factor that determines renewable energy investment by investors from the United States is commercial ties between the investing and recipient country. Our findings also demonstrate the importance of a strong legal system and clean energy promotion mechanisms, such as feed-in tariffs, in recipient countries. When breaking down investment flows, the effects of different economic factors may vary, depending on whether the renewable technology is solar or wind, which further highlights the importance of understanding determinants of renewable energy investments.Ekaterina AzarovaHannah JunMDPI AGarticleclean energyinvestmentParis Agreementrenewable energyEnvironmental effects of industries and plantsTD194-195Renewable energy sourcesTJ807-830Environmental sciencesGE1-350ENSustainability, Vol 13, Iss 11843, p 11843 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	clean energy investment Paris Agreement renewable energy Environmental effects of industries and plants TD194-195 Renewable energy sources TJ807-830 Environmental sciences GE1-350
spellingShingle	clean energy investment Paris Agreement renewable energy Environmental effects of industries and plants TD194-195 Renewable energy sources TJ807-830 Environmental sciences GE1-350 Ekaterina Azarova Hannah Jun Investigating Determinants of International Clean Energy Investments in Emerging Markets
description	Although renewable energy investments in developing and emerging economies play a crucial role in accelerating the clean energy transition, investments remain limited. Building on previous research, this study takes a unique approach by analyzing determinants of clean energy investments from investors from one country, the United States, which represents the largest single source of investments. Based on panel data sourced from Bloomberg New Energy Finance (BNEF)’s Climatescope, we analyzed renewable energy investments by investors from the United States between 2008 and 2019. The analysis included four factors (i.e., economic, socio-environmental, political, and proactivity) and covered 61 emerging/developing countries. Our results suggest that the most significant factor that determines renewable energy investment by investors from the United States is commercial ties between the investing and recipient country. Our findings also demonstrate the importance of a strong legal system and clean energy promotion mechanisms, such as feed-in tariffs, in recipient countries. When breaking down investment flows, the effects of different economic factors may vary, depending on whether the renewable technology is solar or wind, which further highlights the importance of understanding determinants of renewable energy investments.
format	article
author	Ekaterina Azarova Hannah Jun
author_facet	Ekaterina Azarova Hannah Jun
author_sort	Ekaterina Azarova
title	Investigating Determinants of International Clean Energy Investments in Emerging Markets
title_short	Investigating Determinants of International Clean Energy Investments in Emerging Markets
title_full	Investigating Determinants of International Clean Energy Investments in Emerging Markets
title_fullStr	Investigating Determinants of International Clean Energy Investments in Emerging Markets
title_full_unstemmed	Investigating Determinants of International Clean Energy Investments in Emerging Markets
title_sort	investigating determinants of international clean energy investments in emerging markets
publisher	MDPI AG
publishDate	2021
url	https://doaj.org/article/04aab6b71ad044e9a484a35e0568b04a
work_keys_str_mv	AT ekaterinaazarova investigatingdeterminantsofinternationalcleanenergyinvestmentsinemergingmarkets AT hannahjun investigatingdeterminantsofinternationalcleanenergyinvestmentsinemergingmarkets
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Investigating Determinants of International Clean Energy Investments in Emerging Markets

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